NNPC Records 54.5% Profit Growth to N431bn in August

… As government statutory remittances reach N9.49trn

The Nigerian National Petroleum Company (NNPC) Limited, has recorded a 54.5 per cent rise in Profit After Tax (PAT) in August 2026, up from N279 billion in July to N431 billion.

This was contained in the company’s monthly operations and financial report for August 2026, released on Monday.

The result showed that revenue for the month stood at N3.74 trillion, compared with N3.09 trillion in July.

The company also recorded a 19.89 per cent increase in cumulative statutory payments, from N7.91 trillion for January to July to N9.49 trillion for January to August.

According to the report, average crude oil and condensate production was 1.69 million barrels per day, made up of about 1.43 million barrels of crude and 0.25 million barrels of condensate. Gas production was 7,680 million standard cubic feet per day, up from 7,489 million standard cubic feet per day in July.

The report said the improvement in crude output followed the resolution of SBM-related incidents on Floating Production Storage and Offloading (FPSO) vessels, but was moderated by deferments from drilling activities, equipment and facility maintenance, gas curtailment, pipeline and flowline integrity issues, and tank-top and offtake constraints.

On infrastructure, upstream pipeline availability stood at 100 per cent. The Obiafu-Obrikom-Oben (OB3) gas pipeline was commissioned and fully operationalised, linking the Eastern and Western gas network systems, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline stood at 95 per cent completion, with the company working with stakeholders to deliver gas to Abuja in 2026.

PMS availability at NNPC Retail stations stood at 54 per cent in August.

NNPC noted that all production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders.